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(Post 1 of 1467) 06/25/1999.04:45:00 |
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The stock has a PE ratio of only 5 times. Good for medium to long term investment. |
| (Post 2 of 1467) 11/01/1999.08:25:00 |
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By fit4fun on Sunday, October 31, 1999 - 10:47 pm: Of all the small cap stocks, Pacific Andes is now about the most undervalued stock. The company has made a turnround from a loss of H.K$15.7 for year ended 31/3/99 to a profit of H.K$10.5 million for the 6 months ended Sept 30 '99. On an annualised basis this translates into an EPS of U.S$0.065 or a P.E of 3.8x (based on the last trading price of U.S$0.25). I cannot understand why BT prefer to give a negative report on the stock when covering the company's interim report. P.A has a par value of U.S$0.20 and NTA of U.S $0.31. Can anyone dare say that the stock is not worth at least U.S$0.31 now that the company is in the black and trading with a very low projected P.E of 3.8x! |
| (Post 3 of 1467) 11/01/1999.09:19:00 |
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Pacific Andes H1 to Sept net profit 13.04 mln hkd vs 38.80 mln HONG KONG (AFX-ASIA) - Pacific Andes International Holdings Ltd six months to September results: Net profit - 13.04 mln hkd vs 38.80 mln Sales - 1.037 bln hkd vs 1.226 bln Pretax profit - 16.51 mln hkd vs 53.57 mln EPS - 2.0 cents vs 5.9 Interim div - nil vs 2.5 cents Owing to the credit squeeze in mainland China, Pacific Andes said it adopted a conservative sales strategy to limit credit risk and as a result sales in this market were 28 pct lower year-on-year at 452 mln hkd. A similar strategy was also adopted in Eastern Europe, which showed an 80 pct year-on-year drop in revenues at 31 mln hkd. Sales to North America were 36 pct higher time at 324 mln hkd, while in Jpaan sales reached 80 mln during the period and are expected to top 250 mln in the current financial year. |
| (Post 4 of 1467) 11/01/1999.12:43:00 |
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how was the pe ratio of 3.8x arrived at??? half year earnings was only about HK 5 cents. |
| (Post 5 of 1467) 11/01/1999.13:41:00 |
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Yes, looks like fit4fun is also human like the rest of us and have made a mistake with the number of shares in issue. There are 200 mil paid up shares and a profit of HK$10.5 mil translates to an EPS of HK5cts a share. Using an exchange rate of 7.7 HK$ to the US$, this works out to be an EPS of only US 0.64cts at half time. Assuming same numbers for the next 6 months will give us an EPS of US 1.3cts. At a current share price of US 26cts, this works out to be a PE of 20. Its stated NTA is US 31cts. |
| (Post 6 of 1467) 02/01/2000.03:12:00 |
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PACIFIC ANDES (HOLDINGS) LIMITED The Directors of Pacific Andes (Holdings) Limited (the "Company") would like to announce that on 31 January 2000, the Company's wholly-owned subsidiary, Richtown Development Limited, had entered into an agreement with one of its suppliers for disposal of its 100% equity interest in Ever Bright Energy Company Limited ("EBE") for a cash consideration of US$310,000. EBE is a company incorporated in the British Virgin Islands and its principally engaged in marine fuel trading. The consideration was based on the aggregate net assets of EBE as at 31 December 1999. The consideration has been settled in full, by cash on 31 January 2000. The net profit (after deducting all charges except taxation and excluding extraordinary items) attributable to the disposal would be immaterial. The Directors consider that the disposal of the entire interest in EBE will enable the Group to foster relationship with its supplier. The above transaction is not expected to have a material impact on the consolidated net tangible assets per share and earnings per share of the Company for the current financial year ending 31 March 2000. None of the Directors of the Company has any interest, direct or indirect, in the aforesaid transaction. The Directors are not aware of any substantial shareholder having an interest, direct or indirect, in the said disposal. Submitted by Busarakham Kohsikaporn, Company Secretary on 31/01/2000 to the SES |
| (Post 7 of 1467) 02/14/2000.11:16:00 |
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Got 5 lots at 31.5 cents on Thur 10/2. Will continue to monitor its movement. Thanks and have a great day. Cheers... |
| (Post 8 of 1467) 03/20/2000.22:00:00 |
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This stock is one of the slowest mover in the entire SGX. Which I find it a very good intrinsic charateristic for certain retail investors who can maintain the portfolio for 1 to 2 years. I would recommend this stock for following reasons: a. The company had enjoyed high margins and ROE of near 20% in the years running up to the Asian crisis. It was trading at US 0.80 to $1 prior to 1997. The crisis has brought the stocks down to very attractive levels. b. There had been a conscious effort to bring down the gearing of the company as it liquidated some of its assets and paid off its borrowings. This would poise the company in greater position to expand when the biz picks up. c. Fundamentally, the nature of biz is sound as the demand for white fish and roe are strong and the group is focussed on expanding its customer base into potentially large and untapped markets like PRC and Eastern European countries. d. Technically, the chart is at an all time low in a price excellent for accumulation. Trading at between 25 to 26 cents, translates to about US$0.15. Which is a very strong support line, failing which it would test the US$0.11 (S$0.19), a historic low last seen Jul 97. e. Excellent for dollar cost averaging trading method, you can accumulate the stock over months as the prices move very slowly. f. Potential rewards are high as compared to the downside. I would see the stocks testing the S$0.50 cents resistance line by this year, with the potential upside of up to S$0.80 by next few years. g. Pending the China's entry into the WTO, the stock will be given a shot in the arm by a general rally in all China related stocks. f. From the charts, the stock may remain at the base for the coming weeks before picking up. My bet is end April. Barring unexpected events. Drawbacks a. Lack of news and announcements. b. No indication of expected results for this year. Turnover continue to dwindle, while it should be profitable, any extra-ord losses would wipe out all earnings. c. China might not be admitted into WTO this year, depending on their response to the recent Ah-bian victory in Taiwan. All views and opinions are soley authors view and author does not hold responsibility in the accuracy or interpretation of data. |
| (Post 9 of 1467) 06/14/2000.02:43:00 |
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PROPOSED ACQUISITION OF NEW MILLENNIUM GROUP HOLDINGS LIMITED The Directors of Pacific Andes (Holdings) Limited ("PAH" or the "Company") wish to announce that the Company had entered into a Conditional Sale and Purchase Agreement dated 13 June 2000 (the "S&P Agreement") with Pelican Food Limited ("Pelican") pursuant to which the Company will acquire (the "Acquisition") from Pelican the entire issued and paid-up capital of New Millennium Group Holdings Limited ("NMGH") for a consideration of US$6.92 million, to be satisfied by the issue of 34,600,000 new ordinary shares of US$0.20 each in the capital of the Company (the "New Shares") to Pelican's nominee, Clamford Holding Limited ("Clamford"). Pelican and Clamford are both wholly-owned subsidiaries of Pacific Andes International Holdings Limited ("PAIH"), a company listed on The Stock Exchange of Hong Kong Limited. PAIH is the intermediate holding company of the Company. NMGH is principally engaged in the production and processing of vegetables in the Shandong province, People's Republic of China, (" PRC") for export to Japan and Western Europe. The proposed Acquisition is subject to, inter alia, the approval of the Singapore Exchange Securities Trading Ltd ("SGX-ST") for the listing and quotation of the New Shares on the official list of the SGX-ST and the approval of the Company's shareholders at a special general meeting to be convened. The New Shares, when issued will rank, pari passu in all respects with the then existing issued and paid-up shares except to the entitlement for any dividend for year ended 31 March 2000. When the proposed Acquisition is completed, the issued share capital of the Company as at the Latest Practicable Date will be increased by approximately 16.43 per cent on a fully diluted basis from 210,546,250 shares to 245,146,250 shares. Purchase Consideration Pursuant to the S&P Agreement, the Company will acquire the entire issued and paid-up share capital of NMGH for a consideration of US$6.92 million. The purchase consideration was arrived at on a "willing buyer and a willing seller in an arm's length transaction" basis, based on the valuation report prepared by Sallmanns (Far East) Ltd, (the "Sallmanns Report") which values NMGH at 9 June 2000 for US$6.92 million as of 31 December 1999. The purchase consideration represents a 56 per cent premium over the unaudited NTA of the NMGH as at 31 March 2000. The purchase consideration will be satisfied by the issue of 34,600,000 New Shares at an issue price of US$ 0.20 per share. The New Shares to be issued represent 16.43 per cent of the Company's existing issued and paid-up share capital as at 7 June 2000 (the "Latest Practicable Date") and will rank pari passu in all respects with the then existing shares except to the entitlement for any dividend for the year ended 31 March 2000. The issue price of US$ 0.20 per share is the nominal value of the share, and represents a 35 per cent discount to the unaudited NTA per share of the Company and its subsidiaries (the "Group") as at 30 September 1999. It also represents a 56.45 per cent premium to the weighted average price for trades done on the SGX-ST for the five market days immediately preceding the date of signing of the S&P agreement. Moratorium Pursuant to the S&P Agreement, Clamford has undertaken to the Company that it will not sell, dispose of or transfer any of the New Shares allotted to it for a period of 12 months after the New Shares have been issued to it. Rationale for the proposed Acquisition The Directors are of the opinion that the proposed Acquisition will be beneficial to the Company and the Group for the following reasons: i Currently, the Group is principally engaged in the global sourcing, transportation and supply of frozen seafood to the international market, as well as the provision of shipping and agency services to suppliers' fishing fleets. Diversifying into a new food product line would broaden the earnings base of the Group. ii NMGH's vegetable production and processing activities are situated in Qingdao, located in the eastern part of the Shandong province which is an important vegetable producing region in the PRC. The favourable climate and soil conditions provide a low risk environment for the cultivation of vegetables. The proximity of the Qingdao port, China's second largest port, and the Qingdao International Airport also allows the Group to export processed vegetables to the various Japanese, European and the United States' markets timely. This is especially critical for fresh vegetables. iii NMGH is also well poised to take advantage of the current trends in the Japan and Western Europe markets. Its entire operation is situated in Qingdao, PRC which is strategically closer to Japan than any of Japan's major suppliers of vegetables such as California, Australia, New Zealand and Mexico. This offers competitive advantages in the form of lower freight charges and the freshness of the vegetables. The Group, with the availability of an abundant supply of labour resources at low cost, is also well positioned to tap the growing food-packs market in Western Europe. The entrance of the PRC into the World Trade Organisation is also likely to benefit the vegetable export market of the PRC in the form of potential reductions in tariffs in the USA and Europe and the easing of anti-dumping legislation. This would open up new markets for NMGH. iv The Acquisition is based on a "willing buyer and a willing seller in an arm's length transaction" basis and the consideration was based on a valuation conducted by Sallmanns (Far East) Ltd which valued NMGH at US$6.92 million. Financial Effects The financial impact of the Acquisition on the net tangible asset per share and the earnings per share of the Company will be as follows:- Net Tangible Assets ("NTA") per share NTA per share before Acquisition : HK$2.42 Adjusted NTA per share after Acquisition : HK$2.17 NTA per share is calculated based on the unaudited interim accounts of the Company and NMGH for the period ended 30 September 1999. Earnings per share ("EPS") EPS before Acquisition : HK$0.052 EPS after Acquisition : HK$0.031 EPS is calculated based on the unaudited interim earnings of the Company and the NMGH for the period ended 30 September 1999. Conditions Precedent The Acquisition is conditional upon inter alia, the following : (a) the approval of the shareholders of the Company being obtained at a special general meeting of the Company; (b) the in-principle approval of the SGX-ST for the listing and quotation of the New Shares on the Main Board of the SGX-ST; (c) the approval of the shareholders of PAIH for the sale of the shares of NMGH by Pelican to the Company as required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Shareholders' Approval Certain of the Company's directors, namely, Messrs Frank Ng Joo Puay, Ng Joo Siang and Ng Joo Kwee and Mdm Teh Hong Eng, are also directors of Pelican. Mr Cheng Nai Ming is also a director of PAIH. As such, the proposed Acquisition constitutes an interested person transaction within the meaning of Chapter 9A of the SGX-ST Listing Manual. As the total consideration of the proposed Acquisition exceeds Threshold 2 as determined by Chapter 9A of the SGX-ST Listing Manual, the proposed Acquisition is conditional upon, inter alia, the approval of the Company's shareholders at a special general meeting to be convened. Dexia BIL Asia Singapore Limited [formerly known as Banque Internationale A Luxembourg BIL (Asia) Limited] was appointed Independent Financial Adviser ("IFA") for the Acquisition. Saved as disclosed above, none of the Directors or substantial shareholders of the Company have any interest, direct or indirect, in the transaction. Shareholders' Circular Further details of the special general meeting and the Acquisition will be included in a circular together with the Report of the IFA which will be despatched at a later date to shareholders of the Company. Submitted by Yvonne Choo, Company Secretary on 13/06/2000 to the SGX |
| (Post 10 of 1467) 06/15/2000.01:04:00 |
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Pacific Andes to buy New Millennium for 6.92 mln usd SINGAPORE (AFX-ASIA) - Pacific Andes (Holdings) Ltd said it has entered into a conditional sale and purchase agreement with Pelican Food Ltd to acquire New Millennium Group Holdings Ltd for 6.92 mln usd. In a statement, it said the acquisition will be satisfied by the issue of 34.6 mln new Pacific Andes shares at 0.20 usd each to Pelican's nominee, Clamford Holding Ltd. Both Pelican and Clamford are wholly-owned subsidiaries of Pacific Andes International Holdings Ltd. The New Millennium is mainly involved in the production and processing of vegetables in the Shandong province, China, for export to Japan and Western Europe, Pacific Andes said. Following the acquisition, Pacific Andes shares will be increased to 245. 146 mln shares from 210.546 mln. Clamford has undertaken not to sell or transfer any of the new Pacific Andes shares for a period of 12 months after the issue of the shares. The acquisition will broaden the earnings base of the Group, the statement added. ra/rf AFN CEY89-14Jun00 00:20 GMT AFX ; ASIA ; |
| (Post 11 of 1467) 06/15/2000.23:02:00 |
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Reposting here from Carol's Homepage discussion thread ....... __________________________________________________ By Warren on Thursday, June 15, 2000 - 03:29 pm: Carol, Can I ask you what you think of Pacific Andes? I'm starting to get interested in this on 2 fronts: 1. Their results for year-end March 2000 is due soon, and at half-time they staged a good turnaround. Expect to see continued gains into 2nd half, and full year results will stagger market! 2. The charts show stock is bombed out, volumes so low that any 'sudden' trigger could prompt a rush into it. Support appears at 20c level (it used to be a USD stock and I remember it used to trade around US$0.30!) and someone appears to be holding it aloft there. Keen to hear your view? |
| (Post 12 of 1467) 06/15/2000.23:04:00 |
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Felt it should be more appropriate ... so I am reposting this from Carol's Homepage discussion thread ....... __________________________________________________ By Carol on Thursday, June 15, 2000 - 09:00 pm: Hi Warren, Pacific Andes...the frozen fish specialist! Yeap! I remember Pac Andes.... This counter amazed me after its listing in 1996 with the good gains it gave many subscribers. And also last June/July, when it was involved in numerous rotational plays on US$ stocks. Yes, it used to trade around the US$0.30 level before it headed towards the high of US$0.58 last July...I remember having bought it at around US$0.20 early last year. However, it has been ignored ever since, coz there's no interesting theme for investors to latch onto. I agree with you that its earnings have turned positive, and the coy has a net cash inflow now. However, I think many still remember the shocking negative results last year, and so have not given this counter any interest. But, its losses last year were due to some exceptional items. As far as its interim results go, they have been positive, but not near its pre-Asian Crisis or pre-listing ones. Anyway, its 2H is expected to be profitable too. So, for its full year earnings, the coy should return to the black now, but not sure whether the results would be staggering. Based on its NTA of US$0.31 and its par value of US$0.20, I would buy the stock at the current price of 22-25?...maybe for a short to medium term investment. The share price have recovered to its price before the May meltdown on SGX. Any price above 30? I would not go after it. BTW, I do have some vested interest, but at a higher price of 30? bought a month ago. *sigh* |
| (Post 13 of 1467) 06/16/2000.00:28:00 |
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Zico, Thanks for moving the forum to correct place. I'd initially thought nobody (esp Carol to whom I'd directed the question) would read it here and so thot that Carol's homepage would elicit response. I had intended to do same as you and repost, so Zico, you beat me to it. Thanks. Folks, On separate matter, Pacific Andes has announced an interesting new acquisition which may have escaped your attention. I think it has the makings of a good story line--frozen veggies. Yes, high value vegetables like brocolli, spinach etc for the international export market sourced from China. Apparently China is world's cheapest producer of such items, especially garlic (FHTK has a HUGE operation there, hence my interest in that stock as well). Currently the world demand (which is insatiable and runs into several hundreds of billions US dollars) is being feed by countries like Poland, Czech republic, NZ, Oz and Latin America, but none can beat China in price. Why? Low labour cost. The high value cash crops like brocolli, beans, peas etc need to be delicately handled and can't be machine dealt. So Western automation is out, and labour intensive operations are best sited in China, which has thousands of years of farming history. According to my broking sources, the management intends to hold analyst and press briefings soon. This new venture, which could be an exciting revenue centre for Pacific Andes, will, I feel capture the imagination of the market again and the stock could 'suddenly' come alive. Do keep it on your radar screen. Its on mine, and Carol's already. Got vested interest. Just my 2.5c worth |
| (Post 14 of 1467) 06/16/2000.00:58:00 |
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No problem Warren, I just did what looks appropriate. SI is like a home and dont want my home to look irregular.... Anyway, thanks a lot for your analysis, not only for PacAndes, but for everything you have posted! |
| (Post 15 of 1467) 06/26/2000.15:54:00 |
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Folks, Heard from brokers that Pacific Andes is going to report a sterling set of results on June 28. Not only will there be a turnaround from losses to profit, the latest results will also show that there has been a vast improvement in business conditions. At half time FY 3/00 it reported net profits of HK$10.471 mil against a loss of HK$15.667 million in FY99. It is expected that profits for 3/00 will be double that at half time and results could come in above HK$30 mil net profits. If true, the PEs for Pacific Andes will be a low single digit figure! Cheap, by all standards. The only problem, I can see is that many broking firms have dropped coverage of this stock. Therefore business visibility is an issue. Be that as it may, that leaves the stock the element of surprise with plenty of upside potential on rediscovery or re-rating by analysts again. After all, nobody is interested now, equals to very few have stock left to sell?! Hve vested interest. Just my 2.5c worth |
| (Post 16 of 1467) 06/27/2000.10:36:00 |
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I decided to poll my brokers to see what the mood and temprement is towards Pacific Andes. These are what some of them said: "We have dropped coverage of this stock. Business visibility is an issue. But our relationship with management is there so we shall just maintain this relationship", one analyst at a large listed broker said. However, another analyst that actually follows the company adds: "Personally I think the stock looks cheap in terms of valuations but this stock will continue to face an uphill task in getting analysts to want to follow it." Although he hasn't updated his findsing with a formal research note he added: "Pacific Andes is trading at approximately 5.4x FY3/00 P/E (based on share price of SGD 22cts). Also, book value of the stock is around USD 28c per share or SGD 48c. Share price is thus at a big 54% discount. "In fact, current share price is even lower than the par value of USD 20c. Net earnings for the year ended 31 March 2000 are expected to come in around the HK$38m mark, a turnaround from the loss of HK$16m experienced in FY99. Net gearing is manageable at about 50% as at 31 March 2000. "The recent asset injection of the vegetable processing project from parent PAIH into PAH will add a new dimension to longer term earnings as PAH can also tap into the common customer base. But we do not see much impact in the short term as the project is still in the initial stage." There you have it folks, another diamond in the rough?! Just a little bit of market prespective: the recent high was 99c in June 1999 and low is 18c in June 2000. That to me spells limited downside, but healthy upside surprises in store. Vested interest. Just my 2.5c of market intelligence |
| (Post 17 of 1467) 06/27/2000.10:49:00 |
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Hi Warren, Thank you for sharing...news sound good. I've managed to average down my early purchases...thank goodness. Will be waiting for the results...think they'll be back to positive again... Thanks again... Have a great day. |
| (Post 18 of 1467) 06/27/2000.17:34:00 |
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warren, U R RIGHT. this shares is going to fly thanks you |
| (Post 19 of 1467) 06/28/2000.03:46:00 |
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Pacific Andes yr to March net profit 38.987 mln hkd vs loss 15.667 mln SINGAPORE (AFX-ASIA) - Pacific Andes Holdings Ltd year to March results: Net profit - 38.987 mln hkd vs loss 15.667 mln Revenue - 1.194 bln hkd vs 1.390 bln EPS - 18.91 cents vs loss 8.19 Div - nil, unchanged In a statement, Pacific Andes said the revenue fall was due to the company's decision to dispose of all its fishing vessels. As a result, its sales of seafood products fell 60 pct year-on-year to 36. 8 mln hkd. It said it returned to profitability after aggressive cost-cutting and marketing efforts. Pacific Andes closed up 0.035 sgd at 0.265 on 1.45 mln shares. mbe/rf |
| (Post 20 of 1467) 06/29/2000.06:25:00 |
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SUBSTANTIAL INCREASE IN PRICE AND TURNOVER ON THE EXCHANGE 28 June 2000 Singapore Exchange Securities Trading Limited 20 Cecil Street #18-02/05 The Exchange Singapore 049705 Attention: Mr Andrew Li Vice President Head, Market Surveillance and Enforcement Dear Sirs PACIFIC ANDES (HOLDINGS) LIMITED - the "Company" SUBSTANTIAL INCREASE IN PRICE AND TURNOVER ON THE EXCHANGE The Company announced the proposed acquisition of New Millenium Group Holdings Limited on 13 June 2000, in connection with which some analysts visited Qingdao, the People's Republic of China. Other than the above, the Directors of the Company are not aware of any reasons or circumstances which could have led to the sharp increase in the share price and turnover of the Company's shares on the Singapore Exchange on 27 June 2000. The Company released its unaudited results for the financial year ended 31 March 2000 on 27 June 2000. Yours faithfully Yvonne Choo Company Secretary Submitted by Yvonne Choo, Company Secretary on 28/06/2000 to the SGX |
| (Post 21 of 1467) 06/29/2000.21:12:00 |
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"Investors see value in this stock is the reason for its recent increase in volume and price." - suggested reply to SGX query. or perhaps, "The increase in volume and price is probably due to the good financial performance of the company." At times, listed companies tend to be non-committed and give a standard reply to SGX query. |
| (Post 22 of 1467) 07/14/2000.10:48:00 |
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Looks like Pacific Andes is waking up. The historical charts look good. Buy signals in place.  |
| (Post 23 of 1467) 07/14/2000.11:28:00 |
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Nina, Yes there is some light being shone on this once neglected counter. I have recorded my thoughts here at this thread, and recommend reading the archives to get a full flavour of the stock. This company once had some problems, but with they have a pragmatic managment, practising sound business principals. During the past two years, they have been working very hard to improve the operations of the company. It paid off! Their latest results showed a remarkable turnaround, where net profit came in at HK$38.98m versus -HK$15.667m losses the previous year. Maybe because their management time was spent concentrating on this important task, that investor PR has been mistakenly omitted. That too could change. Also, it seems to me that the markets in HK and Singapore currently only favor high-tec or large cap issues. Alas, the players here tend to overlook little gems like this one until it captures the headlines, or pops up on the %age gainers or top volume boards. That is when the the crowds notice it...and it usually too late. Have vested interest. Just my 2.5c worth |
| (Post 24 of 1467) 07/14/2000.15:17:00 |
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Warren Paciific Andes is a hidden gem. Think it's PE is in the low single digit. I have some vested interest and am waiting for the jewel to be re-discovered. |
| (Post 25 of 1467) 07/14/2000.17:17:00 |
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Pacific Andes is  in a sea of  . |
| (Post 26 of 1467) 07/24/2000.00:59:00 |
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Hi Warren, Last Friday, I was at MPH and guess what i found out from the latest issue of Shares Investor vol. 130? I was shocked that it states Pac. Andes's NTA is US$2.5++ . I confirmed with my friend and he saw the same numbers too. Thus, i am very eager to hear from you soon on this NTA's issue...... Regards |
| (Post 27 of 1467) 07/24/2000.07:21:00 |
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a printing error no doubt. the nav is 1/10 of the one you quoted. as on mph, they just got 92% of avj. so what happens next? |
| (Post 28 of 1467) 07/24/2000.16:48:00 |
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Anytime, You wrote: ".... I was shocked that it states Pac. Andes's NTA is US$2.5++." Yes, you are right that the NTA is $2.56, but the currency is HK$, not USD. There is often lots of confusion when such overseas companies list on SGX. The parent of Pacific Andes has its HQ in HK, so home currency is HK$, while trading on SGX was initially in USD and recently converted to SGD. These items below were extracted from Pacific Andes (Holdings) Ltd's full-year results for the year ended 31 March 2000: 3.(c)(i) EPS based on existing issued share capital of 18.91 cents FY00, versus -8.19 cents FY99 (HK dollars) 3.(e) Net tangible asset backing per ordinary share of 256 cents FY00, versus 238 cents FY99 (Hongkong dollars) At present exchange rates of HK$4.4630 per S$1, the EPS works out to SGD 4.23c, while NTA stands at SGD 57.36c. Hope that clears up the confusion. |
| (Post 29 of 1467) 07/24/2000.17:01:00 |
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Hi Warren, Thanks for clearing my doubt! At SGD 57.36c, it's trading at a huge discount to the NTA. Read through the whole archives and found out that it's really a good counter. A clear piece of contrarian stock! *have interests in picking up some* Regards |
| (Post 30 of 1467) 07/25/2000.16:32:00 |
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From Lum Chang securities website 27 June 2000 Pacific Andes (Holdings) Limited Investors plant visit New business via New Millennium Group Holdings (NMGH) Pacific Andes (Holdings) Limited (PAH)had entered into a conditional sale and purchase agreement with Pelican Food Limited (a subsidiary of Pacific Andes International Holdings) to acquire the entire issued and paid-up capital of New Millennium Group Holdings Limited for a consideration of US$6.92m. The consideration will be satisfied by the issue of 34.6m new PAH shares at US$0.20 each. The acquisition of the New Millennium Group Holdings will allow the group to diversify its distribution of food products to include vegetables and at the same time leverage on its distribution channels. New Millennium Group Holdings is principally engaged in the production and processing of vegetables in the Shandong Province, PRC, for export to Japan and the Western Europe. Advantages of having a presence in the PRC NMGH believes that its presence in Shandong offers it the opportunity to access the available and right ingredients for the production of vegetables and fruits such as abundant labour supply and good quality soil. Its strategy to grow vegetable products in accordance with internationally accepted farming practices and specifications of its export markets gives it the assurance that there will be demand for its vegetable products from its export markets. Management intends to establish close relationships with various agricultural logistic companies around the world to enhance its agricultural processes. NMGH with its vertically integrated operations in the PRC and existing distribution network is well positioned to enjoy economies of scale and lower operating costs. Own farmland as well as subcontracting farming NMGH’s farmland of 3.7sq km in Qingdao which has a production capacity of 10,000 tons of fresh vegetables pa is insufficient to meet demand. It has to subcontract the cultivation of vegetables to qualified farmers in the Qingdao region. Subcontracting farming area is expected to reach 3.9sq km by end 2000. Own processing plant NMGH has its own processing plant equipped with advanced equipment to ensure a high quality output. Its plant has a production area of 2100 sq m and is able to process an output of about 5 metric ton of vegetables an hour. Impact on PAH’s earnings Management expects this new business to be profitable and contribute positively to bottomline in FY2001. For more information, visit http://www.investline.com.sg |
| (Post 31 of 1467) 08/17/2000.23:24:00 |
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Made quite a bit on this counter during last mini bull run middle of last year. It seemed to run in tandem with Hotung at that time when both were in US$. However, it had dropped to almost the bottom of the ocean now. At its low (when in US$, it was abt .15 - correct me if I err a bit, can't remember exactly except I bought some at that price during the crisis). Then it went to above US$.50+! Sold then. Then it started dropping and dropping.... Thought I had a good deal when I went back in and buy at US$0.28! But since it got converted to S$, it seems to lose its shine?! Of course, I know it is a hidden gem waiting to be discovered again that's why I pian pian don't sell. I know this will zoom when the bull run happens. Then everyone will wonder why they didn't notice it again when it was so cheap!! IH now collecting slowly cos the sellers' volume is peanuts everyday. How to move this stock when they don't have enough stock to capitalise on an uptrend? It is about as low as you can get now. The price is about the same as during the last financial crisis. Things are looking up for this company, trading way below its NTA, and it's cheap! |
| (Post 32 of 1467) 09/01/2000.17:30:00 |
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To warren, any comment on this counter?? Do you have any vested interest in this counter?? |
| (Post 33 of 1467) 09/01/2000.17:32:00 |
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To warren again, Oohs...forget to say thanks you in advance. Many thanks and have a nice weekend. |
| (Post 34 of 1467) 09/06/2000.00:09:00 |
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Foresight, Apologies for the late reply, just saw your message. Yes, I am still involved with Pacific Andes and at 22c, it is trading at almost the same level as during the height of the 1998 crisis. So to me that qualifies as a "basement price" penny stock, and I'm happy to keep my position open. Still, I realise that while many here will agree that Pacandes is considered "cheap", both on its valuation and absolute price wise, they will be put off by the lack of following. There is no hype surrounding this stock, just huge potential upside once the tide rolls in. It will depend really on whether market players take an active interest in 2nd and 3rd liners again and 'play them up'. The upside potential is quite good, IMHO, but when the true value will be unlocked I'm unsure at this stage. That is unless there is some form of corporate action or investors start to switch into 'value investing' mode again. Saying that, I do like value and I've been on the buy side for the past two months among many of them, Pac Andes included. I also gather that OUB Securities has done a pretty bullish report on the company, identifying it as a high growth small cap selling at PEs of just 3x! I'll try and source for the report and post excerpts here in due course. Meanwhile, just hang in there I guess? Warren |
| (Post 35 of 1467) 09/06/2000.16:22:00 |
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hi Warren, Thanks again!! What is your view on Pertama and First Engineering?? Is it a good contrarian buy? What should be the basement price?? Always a joy to learn from you. warmest regards, |
| (Post 36 of 1467) 11/08/2000.00:55:55 |
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Everyone left the room already? Last posting since JUNE. Just can say, like many others, it's undervalue comparing to its NTA.
*No Vested Interest* |
| (Post 37 of 1467) 11/17/2000.12:19:05 |
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What's up with this food stock ? Up 5.5 cents ? Mad cow disease scaring everybody into frozen vegetarians ? |
| (Post 38 of 1467) 11/21/2000.09:32:04 |
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yo what's up with this one. second time this week. privatisation? parent co. is listed in hk and maybe taking advantage of the low px here... just my imagination. |
| (Post 39 of 1467) 11/21/2000.09:34:23 |
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Syndicates signalling that they like to play the stock ? |
| (Post 40 of 1467) 12/13/2000.00:29:10 |
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Pacific Andes H1 to Sept net profit 22.329 mln hkd vs 10.471
SINGAPORE (AFX-ASIA) - Pacific Andes (Holdings) Ltd six months to September results: Net profit - 22.329 mln hkd vs 10.471 mln Sales - 664.049 mln hkd vs 551.310 mln Pretax profit - 22.829 mln hkd vs 10.771 mln EPS - 10.61 cents vs 5.19 Interim div - nil; unchanged |
| (Post 41 of 1467) 12/13/2000.00:48:50 |
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Interesting...  At current levels, there is hardly any sellers. Potential buyers have to be patient. The good thing is Pac Andes are not in the radar of most research houses nowadays. A good chance for retail investors to load up and wait for the return of liquidity? A 50% gain in six months should not be much of a problem, in my opinion. |
| (Post 42 of 1467) 12/13/2000.09:37:31 |
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Dow Jones] SINGAPORE: Shares in fishery Pacific Andes (P03) may gain following 113% rise in 1H net profit to HK$22.3 million on back of improved sales; it expects to remain profitable in 2H. Shares flat at 18 cents yesterday.(AXH) |
| (Post 43 of 1467) 01/02/2001.12:20:30 |
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Back to basics for 2001 - food stocks appear to be in. Pac Andes very profitable company. |
| (Post 44 of 1467) 01/02/2001.22:12:11 |
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Pacific Andes obtains approval to list extra 34.6 mln new shares
Source : AFX SINGAPORE 18:11 02/01/2001 SINGAPORE (AFX-ASIA) - Pacific Andes (Holdings) Ltd said it has received in-principle approval from the Singapore Exchange for the listing of an additional 34,600,000 new ordinary shares at 0.20 usd per share to be issued as a consideration for the purchase of the entire issued and paid-up capital of New Millennium Group Holdings Ltd. |
| (Post 45 of 1467) 01/02/2001.23:03:01 |
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Pacific Andes New Shrs Approved
Source : Dow Jones 02/01/2001 18:49 SINGAPORE (Dow Jones)--Pacific Andes Holdings Ltd. (P.PAH) said Tuesday it has received in-principle approval from the Singapore Exchange for the listing and quotation of an additional 34.6 million new ordinary shares at US$0.20 each, worth US$6.9 million, to be issued for the acquisition of New Millennium Group Holdings Ltd. |
| (Post 46 of 1467) 02/02/2001.10:26:31 |
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Hey,
Has anyone noticed that the parent HK company did an asset injection into Pacific Andes amd took stock, not cash? Best part is they took at valuations of USD20c, not SGD20c! That means, they paid themselves with stock valued at SGD35c, versus current price which is just HALF the value of the deal. Hmmmm, quite unusual isn't it? |
| (Post 47 of 1467) 02/02/2001.10:34:21 |
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Following up on my earlier posting on HK parent taking stock here at double current mkt price, what were they thinking about?
Well, for one thing, the par value of Pacific Andes is USD20c, which means the stock is selling way below its accounting value, unlike other companies, especailly the techie and dotcom companies that sell for 10x their par value?! Must be Pacific Andes has lots of assets going for cheap? |
| (Post 48 of 1467) 02/02/2001.10:44:49 |
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Just did a search of the SGX website for their latest reults and found their interim report here. Pay close attention to these figures below:
... 3.(a)(i) EPS Based on existing issued share capital HK$10.61c vs 5.19c. That equal to SGD2.365c against SGD1.157c for HALF year to June 30, 2000. So if one annualise that amount, we get SGD4.73c, or a PE of just 3.8x at current price of 18c! 3.(c) Net tangible asset backing per ordinary share of HK$2.66, up from HK$2.42. Again that works out to almost SGD60c per share in NTA, or 3.33x current share price! Remember, that NTA figure is just for half-year, so full-time numbers to 30 Dec 2000 likely to be much higher. Now, with PEs of 3.8x, discount of 70% against NTA....looks like a gem that has been buried in the sand?! |
| (Post 49 of 1467) 02/02/2001.10:54:04 |
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Sounds like PacAndes is one of those undiscovered gems. Unfortunately food industry is not very glamourous unless it's Macdonalds or Kentucky. |
| (Post 50 of 1467) 02/02/2001.11:11:54 |
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Empresswu,
Can you feed your kingdom with MacDonalds or Kentucky? Anyway, Pacific Andes catches fish, which makes up MacDonald's filet-o-fish? Not sure about KFC, but at least their middle initial spells FISH! |
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